Halifax Reward and Lloyds Vantage accounts.

welshmoneylover

Hi

I've opened a Halifax account just for the free fiver. I intend to pay in and take out £1000/month. I do not intend to use it for banking (norty).

Just wondering as well, I got a lloyds classic account but I've applied for another classic account which I intend to upgrade to Vantage and keep maybe £5 or £6k in there to gain the 4%.

If I bounce the same £1k into the vantage account, can I take it out again within 24 hours just to gain the 4% or does it have to stayin for a calender month?

Has anyone else done this?

Baldur

welshmoneylover wrote: »

If I bounce the same £1k into the vantage account, can I take it out again within 24 hours just to gain the 4% or does it have to stayin for a calender month?

I bounce £1,000 around 3 x Vantage accounts and 3 x Reward accounts each month - it takes as long as it takes to log in/out and make internal transfers plus a Faster Payment back out; certainly not as long as a couple of minutes, let alone 24 hours or a calendar month.

D1zzy

welshmoneylover wrote: »

Hi

I've opened a Halifax account just for the free fiver. I intend to pay in and take out £1000/month. I do not intend to use it for banking (norty).

Just wondering as well, I got a lloyds classic account but I've applied for another classic account which I intend to upgrade to Vantage and keep maybe £5 or £6k in there to gain the 4%.

If I bounce the same £1k into the vantage account, can I take it out again within 24 hours just to gain the 4% or does it have to stayin for a calender month?

Has anyone else done this?

You can do it in and out immediately. You can also upgrade your existing classic to Vantage as well and include that in the loop if you can conjure up enough funds -5K in each will still give you 4%

YorkshireBoy

I feed my Reward accounts from my Vantage accounts each month.

The LTSB deposit can be transferred straight back out in seconds. It does not have to stay in for a calendar month.

welshmoneylover

Great thanks, I've applied for another c/a and will upgrade to vantage as soon as the paperwork has arrived

Wish I'd thought of this sooner!

td_007

welshmoneylover wrote: »

Great thanks, I've applied for another c/a and will upgrade to vantage as soon as the paperwork has arrived

Wish I'd thought of this sooner!

You can have upto 3 Vantage a/cs - so if you have more money to put away then go for it.

iereboy

Welshmoney lover, you can also open them online and even upgrade to vantage online too.

welshmoneylover

That's what I've done iereboy, thanks anyway x

KTF

td_007 wrote: »

You can have upto 3 Vantage a/cs - so if you have more money to put away then go for it.

I applied for a 4th Vantage account online on Wednesday and it appeared today so it looks like this rule isnt hard and fast.